By the end of the session, you will be able to:

• Outline the purpose and content of a petty cash book and maintain the petty cash book

• Process recurring entries

• Practice and apply knowledge from previous sessions

• Identify areas of strengths and weaknesses

• Define control accounts and subsidiary ledgers 

  
  

• Understand how books of prime entry are processed into the double-entry bookkeeping system 

• Develop an understanding of the importance of books of prime entry in accounting. 
• Recognise and differentiate between various books of prime entry. 
• Learn how to record transactions in books of prime entry accurately. 
• Understand how entries in books of prime entry relate to the double-entry accounting system. 

• Account for credit sales and credit purchases 

  
  

• Calculate amounts to appear on an invoice (taking into consideration discounts) 

  
  

• Account for receipts from receivables and prompt payment discounts 

  
  

• Account for payments to suppliers and prompt payment discounts 

• Understand the purpose and layout of the cash book.

• Record cash and bank transactions accurately.

• Balance the cash book and identify any differences with the bank statement.

• Review and reinforce key concepts and material covered in the course.

• Identify and address areas of weakness or misunderstandings.

  
  

• Practice and apply knowledge through various exercises

• Account for transactions (debits and credits) in ledger accounts as part of the general ledger 

  
  

• Balance off ledger accounts 

  
  

• Understand the purpose of the trial balance 

  
  

• Prepare an initial trial balance 

  
  

• The role of digital bookkeeping systems including the benefits and drawbacks and answer questions relating to these areas. 

• Review and reinforce key concepts and material covered in the course.

• Identify and address areas of weakness or misunderstandings.

  
  

• Practice and apply knowledge through various exercises